An Illinois farmer says USDA loan programs for young, beginning and small farmers should me more flexible to help offset the cost of producing a crop.
During a hearing House Ag Committee hearing Thursday, Adam Brown told lawmakers the lack of capital has squeezed his bottom line at a time when input costs are skyrocketing. “Government programs certainly can’t make up for every cash flow problem a farmer may face. Tight margins over the last few years have forced us to find ways to tighten our budget to make ends meet including the liquidation of non-essential farm equipment.”
Ag economist Nathan Kauffman with the Kansas City Federal Reserve says he expects an increase in farm loans over the next few years.